911 or Boxster...
Discussion
Hi chaps...
I'm a complete 'newbie' - this is my first post to go easy please!
I'm 24, and in the fortunate position of having just bought a flat, and am now able to consider which 'nice' car to buy...
My budget is around 20 - 22k - loads of Boxster S's in this price bracket... I'm currently running - wait for it - a diesel SEAT... But rather hoping that a decent used Porsche isn't going to 'break the bank' in terms of running costs (servicing at an indie rather than OPC of course). I recognise that running costs will be higher, but I'll be viewing the Porsche as more of a weekend car... Classic and Sportscar Finance can work payments out to around my current level (about £280 per month).
My question really is whether to go for the Boxster S or a decent early 996 (ideally clear lense '99 model)? I'm not sold on the idea of a rag-top, and I've persuaded myself that the lack of depreciation on a 911 makes it a better bet (particularly given that running costs at a decent indie won't be substantially higher than for a Boxster s)...
Any views would be appreciated!
I'm a complete 'newbie' - this is my first post to go easy please!
I'm 24, and in the fortunate position of having just bought a flat, and am now able to consider which 'nice' car to buy...
My budget is around 20 - 22k - loads of Boxster S's in this price bracket... I'm currently running - wait for it - a diesel SEAT... But rather hoping that a decent used Porsche isn't going to 'break the bank' in terms of running costs (servicing at an indie rather than OPC of course). I recognise that running costs will be higher, but I'll be viewing the Porsche as more of a weekend car... Classic and Sportscar Finance can work payments out to around my current level (about £280 per month).
My question really is whether to go for the Boxster S or a decent early 996 (ideally clear lense '99 model)? I'm not sold on the idea of a rag-top, and I've persuaded myself that the lack of depreciation on a 911 makes it a better bet (particularly given that running costs at a decent indie won't be substantially higher than for a Boxster s)...
Any views would be appreciated!
Boxster S - but it's only my opinion. You'll get a nice first Porsche which will be plenty quick and won't cost the earth. You won't get a great 996 for £20-22k - it will have done super miles and may be a bit shabby. You could get quite a nice looking Boxster S for £22k and you may, if you are lucky, get a facelift car - 03 onwards which had a little more power, glovebox etc etc
Drive several of each in your price bracket and then you'll know. I went from a new Boxster (2.7) to an older 996 and preferred the 911, just.
Oh, and FWIW I used same guys as you mentioned for the 911 finance and found them very good and helpful.
Soovy will be along soon to educate about warranties so I'll leave that side of it to him!
Oh, and FWIW I used same guys as you mentioned for the 911 finance and found them very good and helpful.
Soovy will be along soon to educate about warranties so I'll leave that side of it to him!
LeeME3 said:
Drive several of each in your price bracket and then you'll know. I went from a new Boxster (2.7) to an older 996 and preferred the 911, just.
Did that too, and much preferred the 996. Loved the Boxster though (my first Porsche) and either will put a massive smile on your face. Have fun finding a good one, whatever you choose. Oh and welcome.Thanks to all... Lots of food for thought so far.
The Boxster S is a nice car... My only concern is the depreciation. My suspiscion is that the 911 will loose a lot less over the next couple of years so, as long as i can find a good one, this may offset the (slightly) higher running costs, and put me in a better position if I want to upgrade in a couple of years.
I'm vulnerable to depreciation given the way I'm financing - 5 year term with approx £9k deferred until the end!
The Boxster S is a nice car... My only concern is the depreciation. My suspiscion is that the 911 will loose a lot less over the next couple of years so, as long as i can find a good one, this may offset the (slightly) higher running costs, and put me in a better position if I want to upgrade in a couple of years.
I'm vulnerable to depreciation given the way I'm financing - 5 year term with approx £9k deferred until the end!
stephendalby said:
Thanks to all... Lots of food for thought so far.
The Boxster S is a nice car... My only concern is the depreciation. My suspiscion is that the 911 will loose a lot less over the next couple of years so, as long as i can find a good one, this may offset the (slightly) higher running costs, and put me in a better position if I want to upgrade in a couple of years.
I'm vulnerable to depreciation given the way I'm financing - 5 year term with approx £9k deferred until the end!
no offence mate - but if this is how your planning on buying a 20 grand car - you shouldnt be looking at buying a 20 grand car.The Boxster S is a nice car... My only concern is the depreciation. My suspiscion is that the 911 will loose a lot less over the next couple of years so, as long as i can find a good one, this may offset the (slightly) higher running costs, and put me in a better position if I want to upgrade in a couple of years.
I'm vulnerable to depreciation given the way I'm financing - 5 year term with approx £9k deferred until the end!
Fair enough get a loan to buy a car - but deffering 9 grand is going to rape you on interest!
If I was you, spend £10k - okay, it wont be a Porsche 996, or even a boxster s (though maybe a 2.5 at that price?) - but there are a lot of nice cars in that price range - trust me, when I sold my 996 I bought a car at that price and im happy enough.
Buy right and depreciation wont be an issue either...
Tks Frigits...
I see your point.
I'm doing it this way because I'm likely to upgrade within 2 years or so (as my income rises...).
the idea would be to minimise the repayments in the short term, and terminate the deal early (after say, 2 years) so that the remaining interested would be discounted (penalty for early termination is only one month's interest)... This is why it's crucial to have some 'equity' in the car fairly early into the deal...
I see your point.
I'm doing it this way because I'm likely to upgrade within 2 years or so (as my income rises...).
the idea would be to minimise the repayments in the short term, and terminate the deal early (after say, 2 years) so that the remaining interested would be discounted (penalty for early termination is only one month's interest)... This is why it's crucial to have some 'equity' in the car fairly early into the deal...
Fidg has a point , but there is another thing you can consider . 993's won't depreciate as much , (imo) they're harder to live with day to day , but they've reached a low level 'classic' status , and I haven't really seen prices fall much at all in the last year , so you'll probably be fine depreciation-wise. The big problem is trying to find a really well looked after one .. You could do worse than having a look at www.911virgin.com ...
Btw , for the money you mention , it's going to be tough to find a cherished '99 996 ..
Btw , for the money you mention , it's going to be tough to find a cherished '99 996 ..
Will have a think about the 993...
I was sold on the Boxster. Guy at sportscar finance actually put me onto the idea of a 911... He claimed to have bought an early 996 for approx £22k, ran it for a year and then resold for the same amount... (maybe a slight coincidence that he 'just happened' to have bought one for my budget lol)...
He also recommended trying to stretch to a '99 facelift as these are more 'sorted' than the '97-'98 cars.
I was sold on the Boxster. Guy at sportscar finance actually put me onto the idea of a 911... He claimed to have bought an early 996 for approx £22k, ran it for a year and then resold for the same amount... (maybe a slight coincidence that he 'just happened' to have bought one for my budget lol)...
He also recommended trying to stretch to a '99 facelift as these are more 'sorted' than the '97-'98 cars.
The '99 (and more especially '00) 996 had some improvements made but none were earth shattering!
I've just sold my '99 996 after 18 months of heavenly driving , and would highly recommend them. I'm probably going to get a 'facelift' .. '02 next , but if I was seriously worried about depreciation , I'd be looking more at a good '94/95 mid mileage 993 with a full service history . They're not as fast , as modern , or as good at going around bends as the 996 , but they're rarer on the roads which means they'll always command more attention from prospective buyers. 911virgin got in two (admittedly very sorted looking) late 993's at the weekend , and they're already sold..
I've just sold my '99 996 after 18 months of heavenly driving , and would highly recommend them. I'm probably going to get a 'facelift' .. '02 next , but if I was seriously worried about depreciation , I'd be looking more at a good '94/95 mid mileage 993 with a full service history . They're not as fast , as modern , or as good at going around bends as the 996 , but they're rarer on the roads which means they'll always command more attention from prospective buyers. 911virgin got in two (admittedly very sorted looking) late 993's at the weekend , and they're already sold..
Learn from a guy who has made the mistakes.
I admire the spirit but the wallet isn't thick enough. If you are financing a car that way you can't really afford it. Balloon payments just inflate your interest payments. Either borrow to pay it off, I recommend over three years at the most, or have a cold bath and wait out a bit. later 996's or 997's will gradually come within your range.
Depreciation is a fact of life with any cars, its not a factor which should influence you too much on choosing a Porsche. By all means pick one that you can resell. safe colour, good condition, manual, not smashed (see ebay) Beyond that, its GOING to cost you money, so if that really is critical you would be better sticking with your cheapie and building up a war chest. Then buy what you really want.
I admire the spirit but the wallet isn't thick enough. If you are financing a car that way you can't really afford it. Balloon payments just inflate your interest payments. Either borrow to pay it off, I recommend over three years at the most, or have a cold bath and wait out a bit. later 996's or 997's will gradually come within your range.
Depreciation is a fact of life with any cars, its not a factor which should influence you too much on choosing a Porsche. By all means pick one that you can resell. safe colour, good condition, manual, not smashed (see ebay) Beyond that, its GOING to cost you money, so if that really is critical you would be better sticking with your cheapie and building up a war chest. Then buy what you really want.
I'd seriously say, if your hearts set on a Porsche, get an early Boxster - you will have to shop around but you should be able to find a good one for less than 15k...
Betting on your financial situation being much better in 2 years is very risky, especially for 'just a car'..
And i dont say this lightly (i wanted a 911 most of my life, and had to wait till i was 29 to get one) - the running costs of these cars are steep - dont be fooled by the 'you can do it on a budget' - that'll kill the resale price in one if you scrimp on the upkeep.
Think it through carefully - a 996 may depreciate slowly - but IIRC you need to budget 1-2k a year for servicing, tyres and general upkeep - thats assuming nothing goes wrong!
Mind you, a boxster wont be cheap to run either - but its better to factor these things into any decsion... not to stop you doing it, but just plan ahead!
Betting on your financial situation being much better in 2 years is very risky, especially for 'just a car'..
And i dont say this lightly (i wanted a 911 most of my life, and had to wait till i was 29 to get one) - the running costs of these cars are steep - dont be fooled by the 'you can do it on a budget' - that'll kill the resale price in one if you scrimp on the upkeep.
Think it through carefully - a 996 may depreciate slowly - but IIRC you need to budget 1-2k a year for servicing, tyres and general upkeep - thats assuming nothing goes wrong!
Mind you, a boxster wont be cheap to run either - but its better to factor these things into any decsion... not to stop you doing it, but just plan ahead!
Edited by Fidgits on Tuesday 17th July 16:31
Yes, the 996 may depreciate less but it could (and I stress could) cost you a fortune in consumables if you don't buy the right one. Everyone is so obsessed with 911s on this forum that they forget how good a car the Boxster S is - it's definitely the best all-round, value for money Porsche you can buy and dare I say it the best handling? I'd like to stick a 3.8 in a 987S and see how it fairs round the Nurburgring against a 997S. The Boxster has always been 80-90% of a 996 for half the money - stick with what you can afford and buy the most modern car - you won't be disappointed. Rant over - I await a pasting!!!! (but I do mean it)
P.S. I agree with Fidgits and Cardigan Kid - don't stick a huge balloon if you are going to change after a couple of years. All you will pay is interest and you will end up stuffed. You can get some decent variable rate deals with ballons that eat into the value a little more from day 1 but take it from someone who knows - you always end up behind until you are at least 3 years into a five year deal or the equivalent. If you have to borrow more then just do repayment - costs a little more but pays more of the car's value off.
stephendalby said:
Tks Frigits...
I see your point.
I'm doing it this way because I'm likely to upgrade within 2 years or so (as my income rises...).
the idea would be to minimise the repayments in the short term, and terminate the deal early (after say, 2 years) so that the remaining interested would be discounted (penalty for early termination is only one month's interest)... This is why it's crucial to have some 'equity' in the car fairly early into the deal...
Stephen,I see your point.
I'm doing it this way because I'm likely to upgrade within 2 years or so (as my income rises...).
the idea would be to minimise the repayments in the short term, and terminate the deal early (after say, 2 years) so that the remaining interested would be discounted (penalty for early termination is only one month's interest)... This is why it's crucial to have some 'equity' in the car fairly early into the deal...
Chap, the penalty might be 1 month's interest but how much of the original amount will have been paid off in 2 years? Will that match the depreciation of the car?? you could find yourself owing more than the car's worth which is another cost to bear in mind. you might be deferring £9k in payment but you're still paying interest on it.
what's your annual budget for maintenance, service and insurance?
BTW who's Frigits?
edinandrew said:
P.S. I agree with Fidgits and Cardigan Kid - don't stick a huge balloon if you are going to change after a couple of years. All you will pay is interest and you will end up stuffed. You can get some decent variable rate deals with ballons that eat into the value a little more from day 1 but take it from someone who knows - you always end up behind until you are at least 3 years into a five year deal or the equivalent. If you have to borrow more then just do repayment - costs a little more but pays more of the car's value off.
good point. if you're a director of a company and up the amount to £25k, you may find that a balanced payments approach would be better value. it weights the proportion of principal:interest more equally than a traditional balloon payment arrangement, meaning you'll be 'behind' for less than the 3 years in edinandrew's examplecough 968 sport (yes sport not CS to save a bit of cash) and a nearly new mainstream slogger (how much lower can signums depreciate??!!)
you get a relatively inexpensive to run porsche that's well regarded. and a normal car you don't care about. you'll get bargain finance on some sort of mainstreamer at the moment too.
..unless of course you're interest in porsches is to do with image rather than having a great handling older car that you can afford.
(or you could get a BINI and try and convince yourself it's a bit like having a modern porsche like i have done!
)
you get a relatively inexpensive to run porsche that's well regarded. and a normal car you don't care about. you'll get bargain finance on some sort of mainstreamer at the moment too.
..unless of course you're interest in porsches is to do with image rather than having a great handling older car that you can afford.
(or you could get a BINI and try and convince yourself it's a bit like having a modern porsche like i have done!
)Tks again. Fair point about the interest... I'll consider.
Insurance. Best quote so far is £1500 (still shopping around). High, but bearable for my age and a group 20 car. Maintenance, I'm hoping for £1,000 - £1,500 per year (including tyres) to keep it on the road with a spare £2k 'contingency fund' for incidentals... I wouldn't be doing a massive mileage, 6-8k per year at the most.
Not sure about a warranty - I'm starting to think that the 'contingency fund' approach is better given the track record some of these warranty companies have of refusing claims.
I realise that this isn't the cheapest way to buy a car, but my concern is to minimise payments in the short term and, if i want to upgrade in two years, hopefully not be in the position where the car is worth less than the outstanding finance - hence my concerns about depreciation...
Insurance. Best quote so far is £1500 (still shopping around). High, but bearable for my age and a group 20 car. Maintenance, I'm hoping for £1,000 - £1,500 per year (including tyres) to keep it on the road with a spare £2k 'contingency fund' for incidentals... I wouldn't be doing a massive mileage, 6-8k per year at the most.
Not sure about a warranty - I'm starting to think that the 'contingency fund' approach is better given the track record some of these warranty companies have of refusing claims.
I realise that this isn't the cheapest way to buy a car, but my concern is to minimise payments in the short term and, if i want to upgrade in two years, hopefully not be in the position where the car is worth less than the outstanding finance - hence my concerns about depreciation...
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